Betting shops

lartigueeoe

13 June 2012 16:01:44

Port-au-Prince

Sports gambling is not considered as a useful activity in the UK by many locals. But i consider it's an easy way to make profit as your only inventory is the hope of sports fans.

I am interested in opening a betting shop in the Caribbean and would like to know a little more about this type of business. Is it a high cost investment? How do you calculate the odds? I have done a lot of research but cannot find all the answers i need.

If your are familiar with betting shops please send me information so I can finish writing my business plan.

I also plan to travel in the UK to learn how to efficiently run a betting shop.

Thank you

laidbackfreak

15 June 2012 06:03:12

976

HCMC

lartigueeoe wrote:
How do you calculate the odds?

Seriously if you d not know how to calculate the odds of a bet, you REALLY do not want to be opening your own shop!

Most shops in the uk are part of a chain and the odds are distributed to them from a central point. However the staff that work in there are more than capable of calculating odds for unusual bets.
I used to know several people who worked (and owned) in bookies it's not an easy way to make money. If it's your money you stand to lose a lot.
I can't speak for the Caribean but a lot of the smaller bookies in the UK are losing out to the online markets as the odds are generally better and the tax is less likely to be an issue.
I know the tax rules regarding bookies in the UK changed but I'm no longer familiar with them so not sure how much impact it has had.

If you do plan to go ahead, get some serious help and advice before you lose a lot of money. People do win and occasionally freak bets have to be paid for!

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